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Zacks #1 Stocks on the Move 06/19/2013
| Company Name | Symbol | %Change |
|---|---|---|
| SONIC FOUNDR | SOFO | 4.40% |
| SUPPORTCOM I | SPRT | 3.75% |
| UNISYS CORP | UIS | 3.31% |
| SHORETEL INC | SHOR | 3.22% |
| GREEN MOUNTA | GMCR | 3.13% |
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Diversified technology conglomerate 3M Company (MMM - Analyst Report) recently announced the launch of a new website, 3McablesDirect.com, to facilitate easier and faster purchase of 3M cable assemblies for computing systems, networks and data centers. The website allows users to purchase cable directly from 3M without engaging any intermediaries and irrespective of the quantum involved.
In order to entice the customers, 3M has also offered an introductory discount of 20% for all orders made through the website till Jan end. Other promotional offers include same-day shipping facilities and free two-day shipping on select items for Amazon Prime members.
The website offers a several high-performance fiber and copper cable assemblies for sale to match a wide variety of interconnect protocols such as SAS, MiniSAS, SATA, PCIexpress, SFP+ and QSFP+. The online purchase is an extension of 3M Electronic Solutions Division’s Interconnect business and is likely to benefit the company in the long run.
Formerly known as Minnesota Mining and Manufacturing Company, 3M was founded in 1902 and is currently based in St. Paul, Minnesota. The company operates as a diversified technology enterprise with manufacturing operations across 60 countries. It has more than 35 business units organized into six segments: Consumer and Office; Display and Graphics; Electro and Communications; Healthcare; Industrial and Transportation; and Safety, Security and Protection Services.
Leveraging its long-term strategy of accelerating investments in high-growth programs, 3M strives to deliver sustainable increases in sales, earnings and free cash flow. The company’s ability to convert high R&D spends into up cycle market share gains, pricing power, and margin determines its success over the years.
3M currently has a Zacks Rank #3 (Hold). We have a long-term Neutral recommendation on the stock. We also have a Neutral recommendation and a Zacks Rank #1 (Strong Buy) for Tyco International Ltd. (TYC - Analyst Report), one of the peers of 3M.
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